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The Cheapest Way to Rent a Car: 9 Tips

2018-03-22T04:26:00.000-07:00

Sometimes you just need a set of wheels. But who wants to pay $45 a day or more on a rental car?

The good news: You don’t have to. These nine tricks will help you score a cheap rental car and save money on your next road trip, whether it’s a quick weekend getaway or a cross-country odyssey.

1. Skip the airport

Sure, renting at the airport is convenient when you’re flying into a new city. But that convenience can come at a premium, thanks to airport surcharges.

We checked rates in March for a Memorial Day visit to Portland, Oregon. An economy rental from Enterprise is $15 per day if you pick it up downtown. The same car is more than $38 per day if you pick it up at the airport. Plus you’ll pay a $6 per day “Customer Facility Charge” and 10% “Concession Recovery Fee” for renting at the airport.

All told, you’d save roughly $110 over your three-day weekend in Portland just by renting from somewhere other than the airport. This isn’t the case in every city, though. You’ll pay nearly the same price renting at Chicago’s O’Hare International Airport as you would at an off-airport location.

Price out rental locations in the city and compare to what you can get at the airport. Make sure you factor in the cost of a taxi or Lyft to and from your rental location if you rent at a location away from the airport. And take into account time lost to traffic in a city like Chicago.

» MORE: No matter what your goal is, NerdWallet can get you there faster

2. Shop around

Look at sites like Kayak, Priceline, Cheapcarrental.com and even Costco or AAA to compare your options and narrow in on the best deal.

Then go directly to the car rental company’s site. You might find an even steeper discount that way, particularly with “Pay Now” options. Just keep in mind that rentals paid in advance are typically nonrefundable.

Even after you book, keep shopping. If you didn’t book a nonrefundable rental, you can cancel your reservation if you find a better price.

3. Consider budget rentals

Enterprise, Hertz and Budget aren’t the only outfits in town. Discount brands like Advantage, Payless, Thrifty and Dollar Rental are also vying for your business, often at a lower rate than big-name rental companies.

On a given day, our research showed that the lowest-priced rental from Advantage, Dollar and the like was at least $5 cheaper than the cheapest premium brand rental, depending on the city. That savings multiplies over longer trips.

» MORE: Our family vacation: On the open road

4. Leverage memberships

Have a Costco membership? Use it to save money on your next rental car.

“I find that Costco consistently beats full-price car rentals on online travel agencies,” says Clem Bason, CEO of the travel website goSEEK.com and formerly of Hotwire.com.

An added bonus: You can often add a driver for free.

AAA memberships are another great money-saving tool.

“They offer 8% and 10% savings on Dollar and Thrifty respectively,” says Bason, noting that these carriers often offer the most affordable rentals anyhow. “Getting an extra 8 or 10% off the cheapest options out there can make the difference and cause AAA to sometimes beat Costco on price.”

Frequent-flier programs also offer discounts on rental cars. American Airlines, for example, offers AAdvantage members 35% off Budget and Avis — but you need to rent from an airport.

5. Opt for economy

Economy cars are typically the cheapest, and therefore the most likely to be booked. You can use this to your advantage, says Brett Graff, a family finance expert and author of a syndicated column called The Home Economist.

“When renting a car, I reserve the smallest, most affordable vehicle possible, knowing there’s a chance it won’t be on the lot and I’ll get an upgrade,” Graff says.

Just don’t book something that’s too small for your party or you could be stuck cramming five people plus luggage into a two-door coupe. Not exactly the cozy vacation you had in mind, is it?

6. Stick to one driver

Most rental car companies will charge you a daily fee to add an extra driver. That fee is typically $12 per day with Enterprise and National Car Rental and $13 per day with Budget and Avis, but can vary by location.

There are ways to dodge the fee, though. Some companies, such as Enterprise, waive the additional driver fee for a spouse or domestic partner, but you both need to have the same address on your driver’s licenses. Others, including National, will waive the fee for spouses, partners and immediate family members if you enroll in their membership program.

Budget will also waive the fee for co-workers who are traveling together, so long as they rent under their employers’ corporate account.

You can also leverage other memberships, such as USAA, AARP, AAA or Costco to get a free additional driver with select rental car companies.

7. Forgo the extras

Rental agents make more money if they sell you on the benefits of extras like insurance, roadside assistance, satellite radio and GPS navigation. You’ll save money if you resist their spiel.

INSURANCE

If you have a car, your primary insurance likely covers you when you rent a car. Carless millennials: Have your parents add you as a driver to their insurance. If you have a good driving record, it likely won’t cost any extra.

Many credit cards also include basic insurance coverage if you use the card to pay for your rental. So you can skip it and save as much as $30 a day on your rental. Some cards even offer more comprehensive coverage.

Renting overseas? You might be required to purchase insurance, even if you have coverage via your primary car insurance and/or your credit card. Example: Costa Rica. Build this into your budget.

NAVIGATION

A Garmin device or similar GPS navigation unit will run you $15 per day or more. Use the navigation system you carry around in your pocket and save your money for gas.

“Why rent a GPS when you can use Waze or Google Maps on your phone?” says Michael Goldman, president of AutoRentals.com

If you’re overseas, map out your route ahead of time and download directions when connected to Wi-Fi. Or go old school and pick up a paper map.

TOLL TRANSPONDER

Rental car companies charge a per-day fee for the transponder, which you pay in addition to any tolls. While tolls are unavoidable, there are cheaper ways to go about it.

“In the popular vacation destination of south Florida, car rental companies often charge $25 per day for the SunPass, whether you use it or not,” says Goldman of AutoRentals.com. “Instead, purchase Florida’s SunPass for $19.99 at CVS Pharmacy stores, Walgreens and Publix Super Markets throughout South Florida and pay for only what you use.”

CAR SEAT

This one may be unavoidable. After all, the safety of your child is more important than saving a few dollars.

But if you have friends where you’re traveling, leverage their network to find a car seat to use during your trip. This will save you $10 or more per day.

8. Price out prepaid gas

It’s typically best to skip the fuel-service option, but occasionally rental companies offer competitive fuel rates. You won’t know what the rental car company is charging until you arrive, so do your research ahead of time.

Use a site like GasBuddy to scope out nearby gas stations and current fuel prices so you can compare against the price offered by the rental car company. Also factor in how likely it is you will have a near-empty tank on return.

On a short day or weekend trip, you may just need to top off your tank before returning the car. Longer trips may allow you to roll in on fumes and save a few dollars as you do so.

9. Walk or ride

While these tips will help you get a cheap rental car, there is one other surefire way to save: Skip the rental altogether. Most major cities have walkable downtowns and extensive public transportation networks, not to mention taxis and ridesharing apps galore.

Need a car for a few hours? Check out Zipcar or Enterprise CarShare. Both operate in more than 20 cities and offer rates as low as $5 per hour — and they pay for the gas. Plan in advance, though, since both require a membership. Otherwise, save yourself the hassle of traffic and often costly parking rates, if you can, and buy yourself a weekend metro pass.

Daydreaming about your next trip? Sign up for free and find easy ways to save for your dream vacation.

BY: KELSEY SHEEHY

The Best Places To Book A Flight Online

2018-03-22T04:25:00.000-07:00

1. Airfare Watchdog to get perfectly curated flight options based on your seat preferences, preferred airlines, budget, and so much more.

Book A Flight Online now

One of the few travel sites to list results from Southwest Airlines in their search results, Airfare Watchdog is a one-stop shop for all your travel needs. They also have a great blog that monitors special promotions, deals, and limited-time specials.

2. Cheapflights.com for the most affordable flights to any destination, at any time.

The name quite literally says it, they find you cheap flights. Cheapflights.com searches the internet and compares more than 300 booking sites and airlines to find the lowest possible price on your next flight.

3. Booking Buddy to not only get you low-priced flight options, but also the inside scoop on when to book a trip, and how to get the best deal based on your travel restraints.

Booking Buddy, a TripAdvisor Company, uses all the info they gather from being experts in the travel industry to help you get the best deal. Like, did you know most domestic airlines release sales on Tuesday? And that Saturdays are also a great day to book?

4. Groupon because sometimes you want to book your flight with everything else (so you don't have to stress about it anymore).

Groupon offers some really awesome travel deals with flights included. Wanna go to China for a week, stay at a great hotel, and arrive at a reasonable time? Groupon has a package for that.

5. Justfly.com to get an extended cancellation policy, so if you aren't sure or you change your mind, you can still buy a ticket and not miss out on the deal.

Justfly.com lets you cancel a flight purchase past the normal 24 hours that most airlines offer. Just add the extended cancelation option upon checkout, and you'll get more time to figure out what works for you.

6. Fare Buzz to find first- and business-class tickets at the lowest possible price.

Maybe you're fancy AF and want to travel in luxury, but maybe you're also financially limited. Fare Buzz allows you to find the best deals on business-class seats, you know those ones you walk past on your way back to your sardine can seat.

7. Momondo (an award-winning site) to help you find the most affordable flight based on your travel priorities.

Momondo searches thousands of airlines, travel sites, and low-cost carriers to help you find the best flights and directs you to their site based on what works for you.

8. Expedia—one of the world's largest travel companies that'll provide you with trusted flight options from hundreds and hundreds of airlines.

Most of you have probably used Expedia to book a flight before. They're one of the world's largest travel companies and are partnered with sites like Hotwire, Orbitz, Trivago, Hotels.com, and Travelocity. They use their size and power within the travel industry to find you the best deals.

9. Priceline so you can set your own price and still get the flight you need.

Another behemoth in the travel industry, Priceline led the charge in changing how people book flights online. They let you set your own price, and negotiate with the leading airlines to find the itinerary you need at the price you want. They also have a deep network of partners, including Booking.com, Kayak, and Open Table, to make every aspect of your trip a total breeze.

10. Google Flights—probably the best way to track flight costs, get notifications on price increases and decreases, and compare costs for multiple destinations throughout the world.

Google used its mega resources and experience organizing the world's information to provide us with a one stop shop to all the flight costs and options. You can check flights, see how travel dates will affect your cost, and sign up for notifications so you'll know if your ticket ever gets cheaper (or more expensive). And make sure to always search for flights in incognito or private browsing mode to guarantee the lowest prices. Flight prices can increase when you repeatedly search, (they basically want to scare you into booking the flight quickly before prices get even higher).

11. Wow Air for crazy cheap flights to Europe from a few major hubs in the US... the only caveat is you probably *have to* have a layover in Iceland.
Wow Air lets you fly round-trip to places like London, Paris, Barcelona, and Amsterdam from many of the major US hubs for tickets starting at about $200. You just have to have a layover in Iceland on your way there! Not a bad deal.

12. La Compagnie for direct business class flights from New York to Paris at a cost you just might be able to afford.

La Compagnie is a business class-only airline that, you guessed it, only has business-class seats for trips from New York to Paris at pretty reasonable prices, (you're looking at the $1,300 range, round-trip). The whole plane is basically a comfortable AF flying box, where you wake up and immediately begin strolling the streets of Paris.

13. Living Social to get travel packages for your dream vacation at affordable prices.

Much like Groupon, Living Social provides travel packages for trips around the world. They also have specific family packages, adults-only destinations, and sometimes have sales throughout the site where you can get an additional discount off your package.

14. CheapOair—they guarantee you're getting the best price for your flight, no matter what!

Have you ever spent hours and hours trying to figure out if the flight you're booking is the cheapest possible? Well stress no more! By booking on CheapOair, you have a money-back guarantee that you are.

15. Orbitz for their awesome rewards program: while you earn miles from your flight, you'll also earn Orbitz Rewards to use on future travel.

Earning points for travel has become a religion for some. Getting status with their favorite airline leads to upgrades, discounts, and access to things you wouldn't necessarily have otherwise. Well, Orbitz offers its customers Orbitz Rewards, which gives you $1 for every $1 Orbuck earned. You'll also get access to heavier discounts on whatever travel you want to purchase.

16. Hotwire for mega-discounted tickets with their "Hot Rate flights"(you won’t know the airline or the exact flight times until after you book).

This might not be for everyone, but if you're flexible and just looking for a really great deal, Hotwire offers Hot Rates which get you the cheapest possible flight without providing you any of the details before you commit. For some this might not be okay, but for others who just want the cheapest possible flight this could be a dream come true.

17. The Flight Deal for the frequent flyer who just wants an amazing journey and doesn't care about the destination.

Have you ever heard those stories about people getting flights to places like Cape Town, Dubai, or Milan for a couple hundred dollars round-trip. Well, if you haven't, let me tell you about a $200 ticket that got me a first class trip to Abu Dhabi. The Flight Deal is the place to find those bargains. You should also probably follow their Twitter because they'll tweet out all the best deals throughout the day.

18. Hipmunk to have your own personal, online travel agent.

Hipmunk offers a much more personal touch when you're trying to book a flight. Shoot them a quick email to see what options are available, (CC anyone interested on taking the journey with you), and integrate your calendar to get suggestions on events happening at your destination.

19. Kayak to see a forecast for the prices of your flight based on a huge databank of information (so you can book at just the right time).

Nothing sucks more than buying a ticket for your next trip, only to see the price drop a few days later. Or waiting on a flight only to see the cost sky rocket! Kayak makes it a little easier to predict those changes, so you can always get the best price.

20. Skyscanner for their weekly newsletter filled with awesome travel tips, deals, and inspiration for future trips.

We'll take any help we can get when it comes to finding affordable travel to destinations around the world and Skyscanner does just that. They'll send you a weekly newsletter with all sorts of tips, tricks, hacks, and help on booking budget trips to amazing destinations.

You boarding your next flight knowing you got such a great deal:

original article: buzzfeed.com

Tips Before Traveling Internationally

2018-03-22T04:23:00.000-07:00

If this is your first time traveling abroad, or maybe you just need a refresher here’s a list of 20 tips you should do or bring before your trip.

Booking
book the best flights

Rent a Car

Security & Health

1. Check-in with your doctor and insurance carrier.
Double check and make sure that you have all of the proper vaccinations and that you have renewed all essential prescriptions. Also, ask you medical insurance provider if your policy applies overseas for emergencies. If it doesn’t, and you want to add extra coverage, consider supplemental insurance.

2. Bring copies of your passport.
If your passport gets stolen or lost you want to be sure that you can still get back into the country, or be able to prove your citizenship.

3. Leave a copy of your passport.
For extra backup, leave a copy of your passport at home or with someone you trust. Consider making an electronic copy you can store in your email account as well.

4. Register with your embassy.
If there’s a problem in the country, this will make it easier for your government to contact you and get you to safety.

Money

5. Look up the monetary conversion before you go.
Finding out that one Danish Krone is equal to just 19 cents … bad surprise. Make sure you do your math before you travel to get a sense of where the conversion rate is at.

6. Make sure your credit card will work in the country you’re visiting.
European banks have switched almost completely to the more secure chip-and-PIN technology, and fewer businesses abroad are accepting the outdated magnetic-strip cards.

7. Go to a bank or ATM in the country you’re visiting.
The conversion centers in the airport or around the city tend to be huge rip-offs. You won’t get charged as many fees at the ATM or the bank, and the conversion will be exact.

8. Always have local cash.
Not every place takes credit cards. Especially important places like trains or buses.

9. Call your bank or credit card provider.
Sometimes banks think that fraud may be occurring if transactions are suddenly happening in Bali when you’re from Jersey, and they will turn off your card as a security measure.

10. Check the country’s entrance/exit fees.
Some countries require travelers to pay in order to enter or leave the country. These fees are not included in the price of your airline ticket, and can range from $25 to $200.

Local Research

11. Buy tickets now for places you know you want to visit or see.
By buying in advance you’ll be able to skip more lines, and find more deals targeted toward you.

12. Get guidebooks.
Guidebooks usually include maps, key words or phrases, and give you enough detail on certain sites that you won’t need to purchase the pamphlet at the venue. And download apps before you travel. Avoid downloading charges from your wireless carrier and get your apps before you leave.

13. Research events going on while you’re there.
This will help you make sure that you’re not missing the best events going on in the city — fun things like festivals, ceremonies and natural events. Also be sure to research as a few national dishes to try. You don’t want to leave the country without experiencing what its known for.

Electronics

14. Bring a charger adapter.
Countries have different size plugs and voltage. So if you want to use your iPod, make sure you can charge it.

15. Check the voltage of your electronics.
From my own experience I know that nothing is worse than having an adapter and still not being able to use a blow-dryer or a straightener because the voltage isn’t high enough for that country.

16. Activate your phone’s global capabilities.
There’s usually a charge for doing this, but it is much less than the roaming charges you’ll get if you don’t.

17. Download Travelzoo app.
The Travelzoo app can help you find great deals in a variety of countries, and has options from local deals to transportation options.

Luggage & packing

18. Pack an extra set of clothes in your carry-on bag.
Don’t be one of those travelers decked out in J’adore Paris apparel because the airline lost your luggage and you have nothing else to wear.

19. To check a bag or not to check bag.
Each airline has its own set of guidelines as to how many bags can be checked or carried on for free. Make sure to look up what your airline’s rules are to avoid any incremental fees.

20. Bring snacks.
Traveling abroad is fun, but eating in a foreign country can sometimes become a task. Bring small snacks that will tide you over until you find that perfect restaurant or food cart.

Best Bank in United Kingdom

2018-02-08T10:59:00.001-08:00

Financial institutions in the UK have taken a reputational beating in the years since the financial crisis, with trust in bankers and their employers hitting rock bottom among the general public after billions of pounds of bailouts and accusations of widespread misconduct in the pre-crisis years.
Nearly 10 years on from the beginning of the crisis, Britain's banks are starting to fix their tarnished reputations and regain public trust.

Some lenders are doing better than others, however. A new study from the Reputation Institute gives all of the UK's top retail banking players a score out of 100.

Scores are calculated by looking at what it calls "seven key rational dimensions of reputation." These are: products and services, innovation, workplace, governance, citizenship, leadership, and performance.

"The impact from reputation on the business is massive, which is why the leading companies in the world are managing this asset in a systematic way," James Bickford, the managing director of the institute says in a press release.

Here's how the major banks rank:

12. RBS — 51.7: Subject to the biggest government bailout during the financial crisis, and still under partial state ownership, RBS has struggled to regain its reputation since 2008. It has, however, seen its reputation increase since last year, the report says.

11. TSB — 60.6: Spun out from the bailed-out Lloyds TSB in 2013, TSB actually drops one place from 10th this year, but its reputation score has increased from 59.7 in 2016.

10. HSBC — 62.6: Europe's biggest bank by total assets, HSBC is a truly global bank, but calls the UK home. HSBC turned down government assistance during the financial crisis. It's reputation score increases from 62.1 in 2016.

9. Natwest — 62.8: Wholly owned by RBS, National Westminster Bank employs 33,000 people and serves around 7.5 million customers. Its reputation actually fell in 2017, dropping from a score of 65.1 in 2016.

8. Co-Op Bank — 64.1: Co-op Bank's reputation took a big hit in late 2013 after footage emerged of former non-executive chairman Paul Flowers apparently agreeing to buy cocaine and methamphetamine. The footage came to light after Flowers had departed the bank. A balance sheet black hole also forced the bank into the hands of hedge funds who are now struggling to find a buyer. Despite all this, the Co-op has seen its standing increase significantly in 2017, climbing from 62.4 points to 64.1.

7. Barclays — 64.6: Barclays did not participate in the government's bailout programme during the financial crisis, but former CEO Bob Diamond came to embody the 'casino banking' style that typified the City pre-crisis. As a result, the bank's reputation still suffered. There has been a big jump in the bank's score this year, climbing almost five points from its 2016 score of 59.8.

6. Santander — 64.7: A subsidiary of Spanish giant Santander Group, Santander UK was formed in 2010 when Abbey National and Bradford & Bingley merged, taking on the Santander name. The bank has roughly 14 million customers.

5. Metro Bank — 65.7: A new player on the UK banking scene, Metro Bank was founded by American businessman Vernon Hill in 2010. It has sought to differentiate itself by offering what it thinks is a higher level of customer service than traditional lenders.

4. Lloyds — 66.1: Lloyds returned completely to private ownership in May 2017 when the government sold its final stake in the bank, first taken during the financial crisis. Lloyds has seen its reputation surge in 2017, climbing from 11th to 4th in the Reputation Institute's ranking. That is "despite the widely reported personal controversies surrounding CEO António Horta Osório," the Reputation Institute says.

3. Halifax — 67.3: Part of the Lloyds Group, Halifax was formerly part of the Halifax Bank of Scotland group. Its reputation score is unchanged from 2016, but it does jump one place in the ranking.

2. Virgin Money — 68.1: Having bought the collapsed Northern Rock for £747 million in 2011, Virgin Money has a large presence in the North East of England and has managed to shrug off any residual reputational issues from Northern Rock's demise. It scores fewer points than in 2016, but keeps the same place.

1. Nationwide Building Society — 79.8: “The strong reputation score Nationwide has achieved this year and last year proves that the sector a business operates in does not need to hold it back from striving for an excellent reputation," James Bickford, the Reputation Institute's MD says in a statement.

article original : http://www.businessinsider.fr

The top banks in Switzerland

2018-02-08T10:47:00.003-08:00

Overview of Banks in Switzerland

The Swiss Financial Market Supervisory Authority, more commonly known as FINMA, regulates banks in Switzerland. UBS and Credit Suisse are the two largest banks in Switzerland, accounting for more than 50% of total deposits in the country. The Swiss banking system comprises of:

Big banks
Foreign banks
Raiffeisen Group – Cooperative banks
Private banks
Cantonal Banks – Government-owned commercial banks that account for around 30% of the banks in the country
According to Moody’s, Switzerland’s banking system is stable due to strong operating conditions despite the challenges of low interest rates and housing price inflation faced by the economy.

For anyone considering a career in banking in Switzerland, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in Switzerland are:

UBS

UBS came into existence in 1998 after the merger between Union Bank of Switzerland, founded in 1862, and Swiss Bank Corporation, established in 1872. It is the largest bank in Switzerland, with seven main offices around the world.

Headquartered in Zurich, the bank provides wealth management, asset management, and investment banking services.

In 2016, UBS reported a total income of US$30 billion and total assets of US$978 billion.

Credit Suisse

Founded in 1856, Credit Suisse is one of the leading banks in Switzerland and is headquartered in Zurich. The bank’s four divisions include:

Investment Banking
Private Banking
Asset Management
A Shared Services Group that provides marketing and support to the other three divisions
With a presence in 50 countries, Credit Suisse employs around 48,200 staff. The bank serves clients through three regionally focused divisions: Swiss Universal Bank, International Wealth Management, and Asia-Pacific.

As of 2016, the bank’s total income was US$2.53 billion and total assets were US$858 billion.

Swiss Raiffeisen

Swiss Raiffeisen is a cooperative bank in Switzerland. It is the country’s third biggest bank with 3.7 million customers, of which 1.9 million are cooperative members or co-owners of the bank. It consists of 292 cooperatively structured Raiffeisen banks and operates 1,004 branches throughout Switzerland.

The bank currently employs 11,759 individuals. As of 2016, its total assets amounted to US$229 billion.

Zurich Cantonal Bank

Founded in 1870, the bank is the largest cantonal bank in Switzerland. Headquartered in Zurich, it provides savings accounts, central mortgage institution loans, investment management services, and professional financing advisory services to Swiss and German customers.

Zurich Cantonal Bank also offers international payments, letters of credit and documentary collection services, export finance, and bank guarantees. It operates through a network of approximately 81 branches and 348 ATMs throughout the country.

In 2016, the bank posted a net income of US$60 billion and reported total assets of US$165.2 billion.

Julius Baer

Founded in 1890, Julius Baer is a private banking group and is present in 20 countries. Headquartered in Zurich, the bank employs 6,205 staff. It provides various structured products and services such as discretionary mandate, investment advisory, Lombard financing, real estate financing and wealth planning. It also engages in securities, foreign exchange, precious metals trading and advisory services. It also runs an open products and services platform.

Banque cantonale de Genève (BCGE)

As the name suggests, BCGE is a cantonal bank founded in 1861. The current form of the bank came into existence in 1994. Focusing on small and medium-sized businesses, it provides mortgages, personal loans, savings accounts, wealth and asset management services, institutional real estate financing, advisory services, global commodity finance, and public authorities financing and management.

It employs 791 staff and as of 2016, the bank’s total income amounted to US$365.98 million and total assets reached US$22.37 billion.

Vontobel

Founded in 1924, Vontobel is into wealth management and asset management services, in addition to investment banking. The bank currently employs 1,700 individuals.

Headquartered in Zurich, it operates in 21 locations worldwide. As of 2016, the total income of the bank was US$1,130.5 million and total assets were US$20,281 million.

Migros Bank AG

Founded in 1958, Migros Bank is a subsidiary of Migros-Genossenschafts-Bund. The bank provides accounts, mortgages, credit and investment services, financial services, cards, and e-banking services.

It currently employs around 1,327 individuals and manages 67 branches in Switzerland alone. In 2016, the bank reported a total income of US$865 million and total assets of US$44,674 million.

Bank J. Safra Sarasin

Established in 1841, Bank J. Safra Sarasin is a subsidiary of Brazilian Safra Group. The bank provides investment advisory and asset management services to private and institutional clients. It came into its present state in 2013, when the Safra Group acquired Bank Sarasin & Co. Ltd and merged it with its Bank Jacob Safra Switzerland subsidiary.

Headquartered in Basel, it currently employs around 1,841 staff. It manages offices in several locations worldwide, such as Bern, Geneva, Lugano, Lucerne, Zurich, Doha, Dubai, Dublin, Frankfurt, Gibraltar, Guernsey, Hamburg, Hanover, Hong Kong, London, Luxembourg, Monaco, Munich, Nassau, Panama, Poznan, Singapore, Stuttgart, and Warsaw.

EFG International

Founded in 1995, EFG International is a subsidiary of EFG Bank European Financial Group. The bank offers private banking and asset management services and operates in 40 locations worldwide. Headquartered in Zurich, it currently employs 3,750 staff.

It operates through three main business segments:

Private Banking and Wealth Management
Asset Management
Investment and Wealth Solutions
EFG International’s Private Banking and Wealth Management segment is managed on a regional basis and is split into Continental Europe, Switzerland, the Americas, the United Kingdom and Asia. As of 2016, the bank’s total income amounted to US$755.07 million and total assets reached US$44,257 million.

TOP BANKS IN SPAIN TIPS FOR EXPATRIATES

2018-02-08T10:41:00.000-08:00

Choosing between the many banks in Spain without the most common service fees (such as administration fee, maintenance, national transfers or annual fees for credit cards) can achieve up to 900 euros of savings per year in some cases.

Bank accounts are indispensable tools for our domestic economy. Thanks to them, you can manage payments and collections. We all have accounts, but not all our bank accounts are the same: some accounts remunerate their users and others, however, can cost a lot of money at the end of the year. Find out which are the best banks in Spain: Identify your user profile and select the best account. You can save over 150 euros per year.

ALL YOU NEED TO KNOW ABOUT THE BANKS IN SPAIN

1. They are completely regulated

The banks in Spain’s framework are entrenched and current. There are numerous banks and all managing an account action that is controlled by the Bank of Spain (Banco de España), which has its main office in Madrid and branches in every single commonplace capital. Banks are partitioned into clearing banks and investment funds banks, and a few outside banks work in Spain too. There are a few banks in Spain that are straightforwardly connected to European and international banks.

2. Online banks: a good choice

Online banks tend to offer free record arrangements to draw individuals far from their trusted block and-mortar banks. What’s more, they are a promising and contrasting change from the customary banks that normally aren’t reliable in their strategies, starting from two branches of the same bank. One branch may let you know there’s an charge to open an account, while another will say it’s free. Some will let you know a Spanish residency card is required, while others will say a visa is fine (for a temporary record at any rate). You can see where this is going!

3. The enemies are the commissions

Check out the following list of commissions ordered by bank (according to FACUA):

168,73 euros…..> Average

271,41 euros……> Barclays

248,40 euros……> Santander

242,40 euros……> Unicaja

239,90 euros……> La Caixa

216,70 euros……> BBVA

213,20 euros……> Sabadell

204,50 euros……> Popular

193,20 euros……> Kutxabank

193 euros………..> Mare Nostrum

185,80 euros……> Deutsche Bank

134 euros………..> Caja Sur Banco

118 euros………..> Bankia

98 euros………….> Bankinter

80,96 euros……..> Abanca

30 euros………….> Triodos

25 euros………….> ING Direct

4. All you need to open a Bank Account

The favorable position of setting a account up as a non-occupant of Spain is that you don’t need to pay any duty. Non-occupants are those burning through 183 days (six months) or less in Spain every year and without their principle proficient movement in Spain, nor a friend or any dependents living in Spain.

Luckily there are some methods for abstaining from being charged every step of the way, depends on how much you need done for you. On the off chance that you have any issues, it may be vital to pick a bank that makes an interpretation of all their writing into your language.

Non-inhabitants need to demonstrate their status by securing a ‘certificado de no residencia’ from their nearby police station and take that to their chosen bank alongside their travel permit. On the other hand your bank can get your will for you for a €15 expense.

There are a number of records on offer, with a few banks offering lower charges for non-inhabitants.

5. Here we go: Top-5 Banks in Spain for Expatriates

ING Direct is the online bank of Dutch bank ING, and is also popular among young expats in Spain. Besides, it is the only bank in Spain that does not charge maintenance and administration fess regardless of whether the users have their payroll paid directly into the bank or not.

0 € account maintenance.

0 € card maintenance.

0 € domestic transfers.

0 € international transfers up to € 50,000.

0 € cheque deposits.

Domestic transfers that you do before 13:00 will reach their destination on the same day.

No fixed term.

Without the obligation to household bills.

No minimum spending on your cards.

BANKINTER

Bankinter, S.A., is a Spanish bank with its headquarters is in Madrid. The Bank is listed on the Madrid Stock Exchange (BKT) and is part of the Ibex35 Index. Bankinter is a bank for the world of today and a leader in technology that offers its clients the possibility of carrying out transactions and making queries in any of the following ways: through its network of branches, its Telephone Banking Service and its Internet Banking Service: ebankinter.com

Bankinter’s current account (Cuenta Corriente) costs a modest amount of €45 per year to maintain. International transfers to EU countries in euros cost just 26 cents if done online (for amounts of up to €50,000). If the cash is transferred by phone, charges are 0.05% plus 26 cents (minimum charge €2, maximum charge €250). For those wanting to transfer money at their branch the fee is somewhat higher, at 0.25% plus 26 cents. However, it costs nothing to receive euros from a foreign account.

Mortgages with a personalized price,

Best funds from best managers

Best cards to suit your payment needs,

Benefits when depositing your payroll,

Customized deposits,

Safety…

Sabadell puts at your disposal a wide range of financial products and services of Banco Sabadell with lower commissions, reduced interest rates and with interesting discounts, only for belonging to this group of clients. See their exclusive conditions for the following products:

Advance on salary: advance of one month of your salary, return period up to 6 months

Salary Credit: if you directly deposit your salary in the bank, get a personal loan up to a maximum of 60.000€, at a preferential interest rate, without charging you origination fees or early cancellation fees. Plus, they offer a payback term of up to eight years

Consult their prices for mortgages and loans.

And some exclusive offers.

Easy to open: although you need to have a residence in Spain.

Prerequisites to get a free account: “Cuenta Sin Nomina” OpenBank has essentially no necessities. There is no base required parity and no store prerequisite. They have a second record sort, called the “Cuenta Nomina,” which requires direct store or exchanges of no less than 900 euros for each month.

Caveats: There don’t seem to be any financial penalties for anything with OpenBank.

ATM network: It is only free to withdraw money from Santander ATMs. There are quite a few in Spain. If you use other 4B ATMs you would be charged 75 cents (September 28th, 2016).

The main advantage of OpenBank in comparison with alternate banks, is that you have an entrance to Santander branches (there are around 3,000 all over Spain). You can store cash through those branches twice every month for nothing. After that it’s 1 euro for every store. At ATMs there is no restriction on free stores, and there are a lot of Santander ATMs. I’ve seen blended audits about this bank in various gatherings.

DECIDED?

HOW TO OPEN A BANK ACCOUNT IN SPAIN

You will normally need to provide the following:

Proof of identity (eg. passport)

Foreigner identification number and certificate (número de identificación de extranjeros)

Proof of address

Proof of employment status (eg. student card, employment contract, unemployment documentation)

CONCLUSION

Even though this review is totally independent, Expat Agency has chosen ING Direct as the best choice between the rest of banks in Spain for several reasons.

article original : http://www.spain-help.com

How to choose the best bank in Canada for you

2018-02-07T11:34:00.001-08:00

Banking in Canada is reliable and convenient, though not always free. With some research, you can find out which is the best bank in Canada for you.

It’s becoming more common to offer free banking for your first year, so shop around and don’t be afraid to say you will bring your business elsewhere.

Before you decide on a preferred bank, take into consideration which branches are convenient to your home and place of work, what their opening hours are, and who offers the best credit cards in Canada for your needs.

International money transfers to your new account

First things first: you’ll (hopefully!) have some money you’ll be looking to transfer into your new account.

CurrencyFair and TransferWise are two of the best ways to arrange an international money transfer, and both companies are offering discounts to Moving2Canada customers.

You can learn more about them, and your other options, in our international money transfer guide.

Which are the best bank accounts in Canada for me?

The ‘Big Five’ banks (RBC, BMO, TD, CIBC, and Scotiabank) have programs for newcomers. These come with special newcomer incentives, so be sure to look into them. The best bank in Canada for you will depend on your specific needs.

Scotiabank

The Scotiabank StartRight® Program allows you to open a bank account, and transfer up to $50,000 into it, before you arrive in Canada.

For those living and working in Canada, you’ll receive a $100 bonus when you open an eligible account. You can also avail of a variety of products and services tailored to newcomers

BMO
BMO is another of Canada’s major banks. They offer discounted banking to newcomers, as well as perks including unlimited electronic transactions, depending on which account you choose.

Tangerine

Tangerine’s biggest selling point is its no-fee banking. It offers chequing accounts (known as ‘current accounts’ in other countries) which pay interest to the customer. The average Canadian will spend $220 in fees each year, and Tangerine helps customers avoid these.

And because they’re a subsidiary of Scotiabank, you can still have free access to Scotiabank ATMs all over Canada. You may still wish to open an account like the Scotiabank or BMO ones above however, as Tangerine accounts cannot accept international money transfers.

But they remain a good choice for many newcomers to Canada who are looking to save money. You can find out about their chequing account here.

How do I choose the best bank in Canada for me?

When choosing which is the best bank in Canada for you, be sure to learn about how your bank deals with each of the following.

Banking fees

Many banks charge you to have a checking or chequing account (known in other countries as a ‘current’ account).

Fees range from $5 to $30 per month, depending on the number of monthly transactions you wish to make. You may be able to have these fees refunded if you maintain a sizeable balance, usually at least $1,000. In any case, do some research and see which is the best bank in Canada for your circumstances.

Checks (or ‘cheques’)

Checks remain a popular payment method in Canada. This comes as a surprise to many newcomers travelling from countries where these have been largely phased out.

Many employers will request a ‘void check’ at the beginning of your employment. This is because it will contain the bank details they require to transfer money to your account. A void check is simply a check with the word ‘void’ written across it. Your bank may give you some of these for free when you open your account.

Check books are often required for paying rent. It can cost up to $40 for a book of 100 checks, so be aware of these costs when choosing the best bank in Canada for you.

ATM charges

You will usually be able to use ATMs belonging to your own bank without being charged. However, if you use another bank’s ATM, then you will usually incur a fee for each transaction.

If you use an ATM machine that does not belong to a bank (e.g. a privately-owned ATM at a bar or restaurant), both the ATM machine and your bank will charge you fees.

Using these privately-owned ATMs is very expensive. It could cost as much as $4 or $5, so try to avoid using them.

When deciding which is the best bank in Canada for you, keep in mind whose ATMs are close to you, and your work.

Debit cards

So long as you don’t exceed the number of monthly transactions permitted by your bank, debit cards can be used almost everywhere without any additional fees. Canadians tend not to carry much cash as a result.

Interac

The Interac system (pronounced “Inter-ack”) is a collection of banks and merchants who all use the same payment system.

Money can be transferred online simply by entering the receiver’s email address – you don’t need the other person’s bank details.

Both parties must have a Canadian bank account that has Interac email transfer capabilities. It costs $1 per transfer.

Some of the best bank accounts available for free

While these options are free at first, bear in mind the above points about access to ATMs and branches. They may not be the best bank in Canada for you if you have to pay fees to use other banks’ ATMs.

In Vancouver, a free checking account is available from Coast Capital Credit Union (customers can use Coast Capital ATMs and HSBC ATMs free of charge).

President’s Choice offer free banking in Canada, unlimited transactions, free cheque books. It’s an online bank, and you use CIBC cash points free of charge.

Tangerine offers fee-free chequing and savings accounts, and they’ll even pay you a small amount of interest. They operate almost entirely online, which can be convenient for many.

Best credit cards in Canada

It’s worth considering who offers the best credit cards in Canada for your needs when choosing a bank. Whether you avail of one is up to you, however you should note that credit rating is considered very important in Canada.

You can also sign up for reward schemes, like ‘Air Miles’, which will give you points for each purchase which you can cash in for products and services, such as cash back, free movies, and travel discounts.

Scotiabank and BMO offer a range of credit card services which help newcomers to build their credit history at a low cost. Click the banners above to research their newcomers’ products and see if theirs are the best credit cards in Canada for you.

Tangerine’s credit card also offers good value, as there is no annual fee and you can avoid charges if you make your payments on time.

Just as your research about the best bank accounts should be thorough, so too should your research on the best credit cards in Canada.

Researching the best credit cards in Canada for you

You can learn which are the best credit cards in Canada for you by understanding how much you can expect to pay, what value you can get in return. Here are five simple things you’ll need to figure out:

1. Read the terms and conditions carefully. Understand what the the consequences will be if you don’t pay off your bills on time.

2. Ask to see a fee schedule so you know exactly how much you can expect to pay. Learn what their interest-free grace period looks like – in other words, the period of time after making a purchase during which no additional charges are incurred.

3. Research what incentives or rewards are on offer. The best credit cards in Canada (or certainly the most competitive ones) will have generous programs for its customers. Ask how quickly they can be obtained, and what conditions need to be met to unlock them. Find out if the rewards are revoked in cases of late payment, or any other reason.

4. Inquire whether a deposit is required, and if so, when will you get it back.

5. Ask about their fraud protection policies, and what will happen if there is unauthorized spending being made with your card.

What else should I keep in mind?

Using international cards
International bank cards will not always work, so please check with your local bank first. You may need to give them advance notice of your travel plans.

Using cash advance on your foreign credit card is also costly as you pay cash advance fees and exchange rate fees. Try taking out large amounts at one time to save yourself from getting charged a lot of fees.

And to avoid confusion at the counter…
The process of putting money into your bank account is known as a ‘lodgement’ in some countries (e.g. Ireland, UK). This term is not widely used in Canada. Instead, Canadians call them ‘deposits’.

Article original : https://moving2canada.com

The Best Bank in Every U.S. State

2018-02-07T11:24:00.000-08:00

Could you walk away from bank branches completely? For most people, the answer is still no.

The way Americans bank has evolved dramatically in the past decade, with a combined two-thirds of consumers saying they prefer to manage their finances via phone or online banking, according to the American Bankers Association. Convenience is paramount for consumers, says Rob Rubin, director at bank consultancy firm Novantas, and that means constant access. "Mobility is where consumers are defining convenience today," he says. "Can I bank wherever I want? Can I have access to cash whenever I want?"

Yet most people still aren't ready to go without a physical outpost. More than 70% of consumers visit banks regularly, J.D. Power's most recent U.S. Retail Banking Satisfaction Study found.

Notes: Based on the 90 brick-and-mortar banks, 50 credit unions, and 15 online banks in MONEY’s universe. Outside ATM fees are an average based on accounts that charged fees for using an out-of-network ATM; overdraft fees are also an average. Interest on savings is a median based on all accounts, including some that required a minimum balance.
It turns out we're demanding bank customers: We want online banking capabilities to handle routine activities, but we also want at least occasional access to physical banks and human help. That's true even of 18- to 34-year-olds, who are less likely to go 100% online than their Gen X peers, Novantas finds.

article original : http://time.com

10 best banks in Brazil

2018-02-07T11:16:00.001-08:00

This article will give you an overview of the 10 major banks in Brazil in terms of assets and importance in the Brazilian economic scenario.

1 - Banco Bradesco Financiamentos

Founded in 1943, in the city of Marília, São Paulo, Banco Bradesco is the second largest private bank in Brazil. It is currently headquartered in Osasco, SP, at Companhia Cidade de Deus.

Over its almost 70 years of existence, Bradesco has acquired several financial institutions in Brazil, such as Banco do Estado do Maranhão, Banco Morada, Banco de Crédito Nacional (BCN), Banco do Estado do Ceará and Banco Boavista. In 2006, Bradesco took over the American Express credit card operations in Brazil.

Banco Bradesco numbers are:

1,4 million shareholders
95.248 employees
3.235 offices
Profit: US$ 6, billion
Official website: http://www.bradesco.com.br

2 – Caixa Econômica Federal

Founded in 1861, Caixa Econômica Federal is a public bank owned by the federal government and is the only working with FGTS, PIS and the payment of unemployment insurance. It is also where all benefits offered by the federal government, such as Bolsa Família, are paid.

Its expertise is banking services, FGTS, PIS, unemployment insurance and other initiatives made by the federal government, such as Programa Minha Casa, Minha Vida.

Caixa Econômica Federal numbers are:

2229 offices
10954 casas lotéricas
81 500 employees
Profit: US$ 1,7 billion
Official website: http://www.caixa.gov.br

3 – HSBC

HSBC is a commercial and an investment bank organized within four business groups: commercial banking; global banking and markets; personal financial services and global private banking. Present in 87 countries, HSBC is present in Brazil since 1997 and is headquarted in Curitiba, PR.

HSBC numbers in Brazil are:

933 offices
25.122 employees
Assets in 2005: US$ 61.7 billion
Official website: http://www.hsbc.com.br

4 – Banco J Safra S/A

Banco Safra is one of the 10 major Brazilian banks, operating in all banking divisions, focusing on companies and upper-class customers. Established in 1955, it is headquartered in São Paulo.

Banco Safra numbers are:

100 offices
5605 employees
Assets in 2011: 86,9 billion
Official website: http://www.safra.com.br

5 – Banco Itaú

Since the acquisition of Unibanco, in 2008, Itaú saw its market value increase 120%, becoming one of the 10 major banks in the world and the largest financial conglomerate in Latin America.

Headquartered in São Paulo, Itaú is a branch of Itaú Unibanco Holding SA. It has operations in Argentina, Chile, Paraguay, Uruguay, England, Luxembourg, Portugal, USA, Japan, China and United Arab Emirates. Its major focus is financial services, such as commercial and corporate banking, besides insurance, assets management and capitalization plans.

Itaú numbers are:

4,8 thousand offices
14,5 million clients
More than 190.000 employees
Total assets: US$ 456 billion in 2011
Official website: http://www.itau.com.br

6 – Banco do Estado do Rio Grande do Sul S/A

Banco do Estado do Rio Grande do Sul (or simply Banrisul), is a state-owned bank focused on business in Southern Brazil. Present in 364 cities, most of them concentrated in Rio Grande do Sul state, Banrisul is headquartered in the city of Porto Alegre and its major focus are banking services.

Banrisul numbers are:

438 offices and 500 ATMs
9.762 employees
Total assets of US$ 22 billion in 2011
Official website: http://www.banrisul.com.br

7 – Banco PanAmericano S/A

Founded by Grupo Silvio Santos in 1969, PanAmericano has operated as a multi-service bank since 1991, having started its credit card operations in 1994. PanAmericano Seguros was incorporated to the bank in 1999.

In 2009 Caixa Econômica Federal bought part of the bank's shares and became the second largest shareholder of the institution.

Banco PanAmericano numbers are:

237 offices
2.425.464 active clients
3 million credit cards
Total assets of US$ 7.7 billion
Official website: http://www.panamericano.com.br

8 – Banco Santander

Santander fisrt came to Brazil in 1982, but it was only in 1991 that Santander Investment operations have begun. The Brazilian operation is considered to be the most important one, being responsible for 25% of the bank profit.

In 1997 Grupo Santander acquired Banco Geral do Comércio and in 1998 and the control of Banco Banespa. In 2008 it acquired the Latin American operation of ABN Amro Bank and became the third major bank in Brazil in terms of assets.

Banco Santander numbers in Brazil are:

1897 offices
7119 ATMs
More than 6,7 million clients
Total assets of US$ 222,210 billion
Official website: http://www.santander.com.br

9 – Banco do Brasil

Banco do Brasil is the largest Brazilian and Latin American bank in terms of assets and third by market value.

Headquartered in Brasília, Banco do Brasil was founded in 1808 and is the oldest active bank in Brazil. The bank is controlled by the Brazilian government and since 2000 it is one of the four most-profitable Brazilian banks, holding a strong leadership position in retail banking.

Its major services are the issuance of boletos, ATM loans, automatic payments, and the account holder may apply for international Mastercard and Visa debit cards. Also, the bank has got offices I several locations throughout the world, such as Amsterdan, Buenos Aires, Dubai, La Paz, Miami, New York City, Santiago and others.

Banco do Brasil numbers are:

5.000 offices
40.000 ATMs
110.000 employees
Total assets of US$ 566.3 billion in 2011
Official website: http://www.bb.com.br

10 – Citibank

Citibank Brasil is headquartered in São Paulo and is a branch of Citigroup FNC, the largest multi-bank in the world. The bank came to Brazil in 1915 and is present in 21 of the 26 Brazilian states.

Citibank in numbers:

103 offices
11.500 ATMs
More than 2.000 employees
Total assets: US$ 272.218,27 in 2011
Official website: http://www.citibank.com.br

this article is original by :thebrazilbusiness.com

The top banks in Bahrain

2018-02-06T14:29:00.001-08:00

Overview of Banks in Bahrain

There are more than 114 banks in Bahrain, comprising of 23 retail banks, 69 wholesale banks, 2 specialized banks, as well as 36 representative offices of overseas banks. The country’s banking system consists of Islamic banks and conventional banks.

Bahrain is the financial hub of the Middle East. The Central Bank of Bahrain (CBB) regulates the banking and insurance sectors in the country. The legal, regulatory and accounting systems in Bahrain’s financial sector are transparent and consistent with international standards.

According to Moody’s, Bahrain’s banking system is negative due to the government debt burden and debt affordability, which is expected to deteriorate significantly in the next two to three years.

For anyone considering a career in banking in Bahrain, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in Bahrain are:

Ahli United Bank

Ahli United Bank is one the largest banks in Bahrain and is located in Manama. Founded in 2000, it provides retail, commercial, Islamic, investment and private banking products and services. The bank operates 110 branches, which includes 22 branches in the Kingdom of Bahrain, 38 in the State of Kuwait, 37 in the Arab Republic of Egypt, 11 in the Republic of Iraq, and 1 in the United Kingdom.

As of 2016, the bank’s total income was US$1,149 million and total assets were US$31.32 billion.

Arab Banking Corporation

Established in 1980, Arab Banking Corporation provides wholesale banking services in the Middle East, North Africa, Europe, the Americas, and Asia. Headquartered in Manama, the bank employs around 344 individuals.

In 2016, the bank reported a total income of US$865 million and total assets of US$16.82 billion.

Albaraka Bank Group

The bank was founded in 2002 and is into retail, corporate and investment banking and treasury services. The bank functions according to the principles of Sharia and is present in 15 countries, including Saudi Arabia, Jordan, Indonesia, Pakistan, Turkey, Lebanon, Tunisia, Algeria, South Africa, Sudan, Egypt, Iraq, Libya and Syria.

The bank currently employs 12,644 staff and manages 697 branches worldwide. As of 2016, the bank’s total income amounted to US$507 million and total assets reached US$23.42 billion.

Gulf International Bank

Established in 1976, Gulf International Bank offers wholesale commercial, asset management and investment banking services worldwide. The bank operates through four segments: Wholesale Banking, Treasury, Asset Management and Financial Markets. It employs around 7,714 employees and is headquartered in Manama.

In addition to its main subsidiaries, London-based GIB (UK) Ltd. and Riyadh-based GIB Capital LLC, it manages several branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with a representative office in Dubai.

As of 2016, the total income of the bank was US$300 million and total assets were US$22.91 billion.

Bahrain Development Bank

Founded in 1991, Bahrain Development Bank provides financial services customized to meet the needs of small and medium businesses in Bahrain. It is headquartered in Manama.

The bank employs 203 individuals and is also present in Sweden, Denmark, Finland and Norway through 110 branches.

As of 2016, the bank’s total income reached US$10,197 million and total assets amounted to US$211.33 billion.

Ithmaar Bank

Ithmaar Bank was founded in 1984. It is an Islamic retail bank that is licensed and regulated by the Central Bank of Bahrain. The bank provides retail, commercial, treasury and financial institutions and other banking services.

Ithmaar Bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. (formerly named Ithmaar Bank B.S.C.).

It is headquartered in Manama and currently employs around 700 staff. In 2016, the bank reported a total income of US$425.8 million and total assets of US$8,341.3 billion.

National Bank of Bahrain

Established in 1957, the National Bank of Britain is the country’s first indigenous bank. It operates 26 branches and is present in locations such as Abu Dhabi and Riyadh. It provides retail and wholesale commercial banking, treasury and investment, and investment advisory services. As of 2016, the total income of the bank was US$257.01 million and total assets were US$7,507 million.

Al Mashrek Bank

The bank was founded in 1967 and is into providing banking and financial services to customers. The bank is a branch of Al Mashrek Bank UAE.

Investcorp

Investcorp was established in 1982. Headquartered in Manama, the company manages alternative investment products for institutional and private clients. It is a private equity and venture capital firm specializing in investments in buyouts, emerging growth, late venture and later stage companies. It invests in small and medium sized companies and family-owned businesses, and also makes large investments in mostly illiquid asset classes such as corporate and commercial real estate equity and high-yield debt investments. The firm typically invests in the industrial, retail and consumer products, and technology sectors within the Europe region.

Arcapita

Founded in 1997, Arcapita is headquartered in Manama, Bahrain. It provides capital to growth-oriented corporate acquisitions. It also specializes in buyouts. It seeks to invest in consumer, healthcare, energy, business services, industrial, technology, and manufacturing sectors. However, target acquisitions are not sector-specific.

The top banks in Oman

2018-02-06T14:24:00.001-08:00

Overview of Banks in Oman

There are 17 licensed foreign and local commercial banks and two specialized banks in Oman. The Central Bank of Oman licenses and regulates the local banking sector, monitors interest rates, and issues development bonds and notes. In 2015, banks in Oman reported combined assets of $73 billion, the smallest in the GCC.

According to Moody’s, the outlook for Oman’s banking system is stable as government borrowing along with higher hydrocarbon output are expected to support a healthy level of public spending and help stabilize the domestic economy.

For anyone considering a career in banking in Oman, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in Oman are:

Bank Muscat

Established in 1982, Bank Muscat is the top leading financial service provider in the Sultanate of Oman. The bank provides Corporate Banking, Retail Banking, Investment Banking, Islamic Banking, Treasury, Private Banking and Asset Management services. Headquartered in Muscat, it employs around 3,000 staff. It oversees a network of 149 branches, 645 ATMs and CDMs, and more than 10,000 PoS terminals.

Internationally, Bank of Muscat manages a branch in Riyadh, Kuwait and a representative office each in Dubai (UAE) and Singapore. Muscat Capital LLC, a Saudi Arabia-based brokerage and investment banking entity, is a 100% subsidiary of the bank.

In 2016, the bank reported total assets of US$32.58 billion and a net income of US$455 million.

Bank Dhofar

Bank Dhofar was incorporated in 1992 and is headquartered in Muscat. The bank operates through various business segments: Retail Banking, Corporate Banking, and Treasury and Investments. Currently, it manages a network of 58 branches (BankDhofar), 10 branches of Maisarah Islamic Banking, 127 ATMs, 49 CDMs, and 5 FFMs.

As of 2016, the total assets of the bank were US$9.4 billion and net income was US$121 million.

National Bank of Oman

Founded in 1972, the National Bank of Oman Bank is the first local bank in the sultanate. The bank operates through various business segments: Retail Banking, Wholesale Banking, Commercial Banking, and Funding Centre. Headquartered in Muscat, it employs around 1,500 individuals.

As of 2016, the bank’s total assets amounted to US$8.5 billion and net profit reached US$156 million.

Alizz Islamic Bank

Alizz Islamic Bank was established in 2012 and is headquartered in Ruwi. The Islamic bank operates through three segments: Retail Banking, Corporate Banking, and Treasury. It manages a network of seven branches.

In 2016, the bank reported total assets of US$992 million and operating income US$23 million.

Oman Arab Bank

Founded in 1972, Oman Arab Bank is a subsidiary of Oman International Development and Investment Company SAOG. The bank operates through four segments: Retail Banking, Corporate Banking, Support and Unallocated Functions, and Islamic Banking. It also provides Sharia’ compliant Islamic banking products and services, which comprise Ijarah, Murabaha, Mudarbah, and Diminishing Musharakah under the Al Yusr brand. Headquartered in Al-Ghubra, Muscat, it employs around 1,100 staff.

As of 2016, total assets of the bank were US$5,363 million and total income was US$64 million.

Bank Nizwa

Bank Nizwa was created in 2012 and is headquartered in Muscat. The bank operates in three segments: Retail Banking, Corporate Banking, and Treasury and Investment Banking. With 330 employees, it runs a network of 11 branches in the Sultanate of Oman.

As of 2016, the bank’s total assets amounted to US$5,363 million and net profit reached US$64 million.

Ahli Bank

Established in 1983, Ahli Bank is based in Muscat. It operates in two segments: Retail Banking; and Corporate Banking, Treasury, and Investments. It also provides international banking services. It employs 549 staff and oversees a network of 20 branches in the Sultanate of Oman.

In 2016, the bank reported total assets of US$4,931 million and a net profit of US$77 million.

Bank Sohar

Bank in Sohar was created in 2007 and is headquartered in Muscat. The bank operates through Wholesale Banking, Retail Banking, Government and Project Finance Syndication, Investments, Treasury, and Islamic Banking segments. With around 700 employees, it manages a network of 27 commercial banking branches and five Islamic banking branches.

As of 2016, the total assets of the bank were US$6,545 million and total income was US$49 million.

Beirut Oman Bank

Established in 2006, Beirut Oman Bank is a branch of Bank of Beirut Lebanon. The bank operates four branches in the Sultanate of Oman, including Muscat, Sohar, Ghubrah and The Wave. The Oman branch employs a total of 150 staff. It won the best foreign bank award at the Banking & Finance Awards 2017.

As of 2016, the bank’s total assets amounted to US$129 billion and total income reached US$491 million.

HSBC Oman

Founded in 1948, HSBC Oman operates as a commercial bank in Oman. Based in Seeb, the bank employs around 900 individuals. It operates through Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), and Global Banking and Markets (GB&M) segments.

In 2016, the bank reported total assets of US$5,854 million and a net profit of US$44 million.

Top Banks in Qatar

2018-02-06T14:17:00.001-08:00

Overview of banks in Qatar

The Qatar Central Bank licenses and regulates 18 banks in the country as of January 2015. Although the increasing foreign exposure of Qatar’s banks is a growing challenge for authorities, Qatar’s banking sector has maintained its stability and efficiency through the years. Local banks dominate Qatar’s banking sector and these banks have very high credit ratings, with Moody’s rating them Aa3 to A2. This guide will outline the top banks in Qatar.

Top Banks in Qatar

Here is a list of the top 10 banks in Qatar. Learn about their history, operations, and size so you can plan your career path as we profile the top banks in Qatar.

Qatar National Bank

Qatar National Bank (QNB) is the largest commercial bank in Qatar. It is headquartered in Doha, Qatar’s capital city. The first domestically owned commercial bank in Qatar, QNB was founded on June 6, 1964, growing into not just the biggest in Qatar but also the largest financial institution in the Middle East. QNB owns and operates subsidiaries in 31 countries. The bank is jointly owned by the Qatar Investment Authority and members of the public who each own 50%.

Assets in 2016: $197,718,273,000
Assets in 2015: $147,968,995,000
Growth Rate (2015-2016): 33.62%
Net profit in 2016: $3,407,769,000
Return on assets (ROA) in 2016: 1.72%

Qatar Islamic Bank

Qatar Islamic Bank (QIB) is the largest Islamic bank in Qatar. QIB was established in 1982 with a paid-up capital of QR25 million and opened its first branch in 1983 as Qatar’s first Islamic financial institution. Since it is an Islamic financial Institution, all products and services offered by the bank are supervised by a Sharia Board. The Sharia Board ensures that the bank adheres to Islamic banking principles. For instance, Islamic banking rules forbid usurious lending (i.e., charging interest on loans).

Assets in 2016: $38,415,969,000
Assets in 2015: $34,898,490,000
Growth Rate (2015-2016): 10.08%
Net Profit in 2016: $579,869,000
Return on Assets (ROA) in 2016: 1.51%

Commercial Bank of Qatar

The Commercial Bank of Qatar is the largest private bank in Qatar. It was set up a Qatari businessman called Hussain Alfardan. The businessman used to work for Standard Chartered (then called Eastern Bank Limited) and saw the need for a private commercial bank in Qatar. The Commercial Bank of Qatar was established in 1975 as the first private bank in the country. The bank started its operations on April 10, 1975 out of a small two-storey building in what is now Souq Najada.

Assets in 2016: 35,818,760,000
Assets in 2015: 33,906,883,000
Growth Rate (2015-2016): 5.64%
Net profit in 2016: $137,741,000
Return on assets (ROA) in 2016: 0.38%

Al Rayan

Masraf Al Rayan is the second largest Islamic bank in Qatar. Al Rayan was incorporated in 2006 and operates 12 branches situated across Qatar. It is licensed by the Qatar Central Bank and is listed on the Qatar Stock Exchange. Al Rayan is primarily composed of three divisions: Al Rayan Retail Banking, Al Rayan Wholesale Banking, and Al Rayan Private Banking.

Assets in 2016: $25,145,879,000
Assets in 2015: $22,809,341,000
Growth Rate (2015-2016): 10.24%
Net profit in 2016: $570,055,000
Return on assets (ROA) in 2016: 2.27%

Doha Bank

Assets in 2016: $24,825,535,000
Assets in 2015: $22,887,119,000
Growth Rate (2015-2016): 8.47%
Net profit in 2016: $289,500,000
Return on assets (ROA) in 2016: 1.17%

Doha Bank is one of the largest commercial banks in Qatar. Doha Bank was incorporated in 1978 and started its operations in March 1979. Doha Bank primarily comprises 4 divisions: Wholesale Banking, Retail Banking, International Banking, and Treasury and Investments. The bank also operates branches in Kuwait, UAE, India, as well as representative offices in China, Japan, Singapore, Hong Kong, United Kingdom, Canada, and Germany.

Al Khaliji Commercial Bank

Assets in 2016: $16,647,596,000
Assets in 2015: $15,558,800,000
Growth Rate (2015-2016): 7%
Net Profit in 2016: $117,193,000
Return on Assets (ROA) in 2016: 0.7%

Al Khaliji Commercial Bank operates out of Doha, with a strong presence not just in Qatar but also in the UAE, including offices in Abu Dhabi, Dubai, Sharjah, and Ras Al Khaima. Also, Al Khaliji also maintains an office in Paris, France. Al Khaliji primarily consists of 4 divisions: Wholesale Banking, Retail Banking, Treasury Management, and Central Functions Management.

Barwa Bank

Barwa Bank is the youngest Islamic Bank in Qatar. It is licensed and regulated by the Qatar Central Bank. As with other Islamic Banks, all services provided by Barwa Bank are Sharia-compliant (i.e., they follow Islamic Banking rules and regulations). Barwa Bank offers retail banking, corporate and commercial banking, business banking, private banking, real estate financing, and asset management services.

Assets in 2016: $12,651,011,000
Assets in 2015: $12,418,027,000
Growth Rate (2015-2016): 1.88%
Net Profit in 2016: $202,968,000
Return on Assets (ROA) in 2016: 1.60%

Qatar International Islamic Bank

Qatar International Islamic Bank (QIIB) is a privately owned Islamic Bank. QIIB was established in 1991 and is licensed and regulated by the Qatar Central Bank. As with other Islamic Banks on this list, all the services QIIB provides are Sharia-compliant.

Assets in 2016: $11,689,824,000
Assets in 2015: $11,137,375,000
Growth Rate (2015-2016): 4.96%
Net Profit in 2016: $215,596,000
Return on Assets (ROA) in 2016: 1.84%

article original :corporatefinanceinstitute.com

The top banks in Kuwait

2018-02-05T14:03:00.000-08:00

Currently, there are 11 local banks in Kuwait. The Kuwait Central Bank supervises the banks in the country, maintains the stability of the Kuwaiti Dinar and serves as a banker and financial adviser to the government.

According to Moody’s, Kuwait’s banking system is stable due to the rating agency’s view that government-funded projects will continue to drive economic growth, and subsequently boost business for banks.

For anyone considering a career in banking in Kuwait, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in Kuwait are:

National Bank of Kuwait

Founded in 1952, the National Bank of Kuwait is the first local bank and first shareholding company in Kuwait and in the entire Persian Gulf region. The bank operates through its Consumer and Private Banking, Corporate Banking, Investment Banking and Asset Management, Islamic Banking, Group Centre, and International segments. It is headquartered in Kuwait City.

In 2016, the bank reported total assets of US$77 billion and a net profit of US$976 million.

Kuwait Finance House

Established in 2002, Kuwait Finance House is a wholly owned subsidiary of Kuwait Finance House-Kuwait. It provides retail banking and finance services, treasury, corporate banking, investment portfolio and capital markets products.

The bank employs 9,000 staff in its 500 branches. It is present in Bahrain, Malaysia, Saudi Arabia, and Turkey. In 2016, the bank’s total assets amounted to US$54 billion and net profit reached US$625 million.

Burgan Bank

Burgan Bank was founded in 1975 and is into providing banking services in Kuwait. The bank operates through the following segments: Corporate Banking, Private Banking, Retail Banking; and Treasury, Investment Banking, and Others. It is a subsidiary of Kuwait Projects Company Holding KSC and is based in Safat.

In 2016, the bank reported total assets of US$24 billion and a net profit of US$221 million.

Gulf Bank

Established in 1960 Gulf Bank is one of the leading banks in Kuwait. Headquartered in Safat, it manages a network of 56 branches throughout the country. It provides services to individuals, corporate and institutional customers. It operates through the Commercial Banking, and Treasury and Investments segments. It employs around 1500 staff.

As of 2016, the bank’s total assets of Banks were US$18 billion and net profit was US$143 million.

Commercial Bank of Kuwait

The Commercial Bank of Kuwait came into existence in 1960 and is the second oldest bank in Kuwait. It provides commercial banking services, including deposits, loans, and credit cards. Headquartered in Safat, the bank operates through Corporate and Retail Banking, and Treasury and Investment banking segments.

In 2016, the bank’s total assets amounted to US$13 billion and net profit reached US$153 million.

Al Ali Bank

Al Ali Bank was founded in 1967 and is headquartered in Kuwait City. The bank provides corporate, retail, and international banking services. It operates 31 branches in Kuwait, 2 branches in the United Arab Emirates (Abu Dhabi and Dubai) and 39 branches in Egypt.

As of 2016, total assets of the bank were US$12 billion and net profit was US$153 million.

Boubyan Bank

Established in 2004, Boubyan Bank is a subsidiary of National Bank of Kuwait KSCP. The bank provides various banking products and services in the Middle East, North Africa, North America, Europe, and Asia. It also offers Takaful insurance products. It operates through four segments: Consumer Banking, Corporate Banking, Investment Banking, and Treasury. Headquartered in Safat, it manages 30 branches in Kuwait.

In 2016, the bank reported total assets of US$10.3 billion and a net profit of US$115 million.

Industrial Bank of Kuwait

The Industrial Bank of Kuwait was founded in 1973 and is headquartered in Al-Sharq. The bank provides conventional and Islamic loans and credit facilities to the industrial sector; conventional and Islamic asset management services, including portfolio and fund management; and conventional and Islamic direct investments in various sectors. It employs around 221 individuals.

In 2016, the bank’s total assets amounted to US$2.0 billion and net profit reached US$30 million.

Al Ahli United Bank

Al Ahli Bank was formed in 2000. The bank provides retail, commercial, Islamic, investment, and private banking products and services. It also offers global fund management and life insurance services. The company operates through four segments: Retail Banking, Corporate Banking, Treasury and Investments, and Private Banking.

The bank manages 110 branches, including 22 in Bahrain, 38 in Kuwait, 37 in Egypt, 11 in Iraq, and 1 branch in the United Kingdom. It also oversees 20 branches in the Sultanate of Oman and 11 branches in Libya through its managed associates.

As of 2016, total assets of the bank were US$107.8 billion and net profit was US$14.26 billion.

Kuwait International Bank

Founded in 1973, Kuwait International Bank is an Islamic bank. The bank provides several banking services, including deposit-taking, financing transactions, direct investment, and credit cards. It operates through various segments: Commercial and International; Retail; Treasury, Fund Management and Institutional Banking; Investment Management; and Others. It manages 26 branches throughout Kuwait.

In 2016, the bank reported total assets of US$6.1 billion and a net profit of US$60 million.

The top banks in Saudi Arabia

2018-02-05T13:52:00.001-08:00

There are 24 licensed banks in Saudi Arabia, consisting of 12 local banks and 12 branches of foreign banks. The Saudi Arabian Monetary Authority (SAMA), the kingdom’s central bank, oversees the operations of commercial banks in Saudi Arabia. The SAMA is also responsible for issuing the country’s national currency (Saudi rial), managing the country’s foreign exchange reserves, promoting price and exchange rate stability, and ensuring the growth and soundness of the domestic financial industry.

There are four types of banks in Saudi Arabia:

Commercial banks
Industrial banks
Agricultural banks
Real estate banks
According to Moody’s, Saudi Arabia’s banking system is stable due to easing funding pressures and high absorption buffers.

For anyone considering a career in banking in Saudi Arabia, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in Saudi Arabia are:

National Commercial Bank

Incorporated in 1953, National Commercial Bank, also known as AlAhli Bank, is the first bank in Saudi Arabia and is considered a pioneer in Islamic banking. Headquartered in Jeddah, it employs 8,035 staff and serves more than 5 million customers through its 374 branches.

In 2016, the bank reported total assets of US$117 billion and posted a net profit US$2.5 billion.

Al Rajhi Banking Corporation

Al Rajhi Bank provides Islamic, personal, auto and home financial banking services, and corporate banking investment solutions in Saudi Arabia. It is headquartered in Riyadh.

The bank employs 9,000 staff in its 500 branches. It is also present in Malaysia, Kuwait and Jordan. As of 2016, the bank’s total assets were US$90.6 billion and net profit was US$2.2 billion.

Samba

Samba was founded in 1980 and is into providing financial services in the kingdom. The bank manages 72 branches in Saudi Arabia, one branch each in London, Qatar, and Dubai, as well as 28 branches in Pakistan. It is present in GCC, Europe and South Asia including Dubai, Qatar, and Pakistan.

As of 2016, the total assets of the bank amounted to US$61.7 billion and net profit reached US$1.3 billion.

Riyadh Bank

The bank came into existence in 1957 and is headquartered in Riyadh. It offers retail and corporate customers wide-ranging products and services that are fully compliant with the Islamic Sharia. The bank is considered the leading financier and arranger of syndicated loans for oil, petrochemicals and infrastructure projects.

In 2016, the bank reported total assets of US$58.0 billion and a net profit of US$891 million.

Banque Saudi Fransi

Established in 1977, Banque Saudi Fransi offers local and international banking services to its clients. The bank employs 3,000 staff in its 83 branches. It is headquartered in Riyadh and manages three regional offices in Jeddah, Al-Riyadh and Al-Khob.

As of 2016, the bank’s total assets amounted to US$54.2 billion and net profit reached US$936 million.

Saudi British Bank

Saudi British Bank was formed in 1978 and is headquartered in Riyadh. It is a Joint Stock Company and is an associated company of the HSBC Group. The bank offers investment banking, commercial banking, private banking and Islamic banking services. It operates a branch in London.

As of 2016, the total assets of the bank were US$49.6 billion and net profit US$1,038 million.

Arab National Bank

Founded in 1979, Arab National Bank is headquartered in Riyadh. The bank offers comprehensive commercial and investment banking services, in addition to specialized services in the fields of heavy equipment leasing and home finance.

It runs regional offices in Jeddah and Khobar, and a branch in London. It serves around 2 million customers through its 95 branches. It employs around 4,400 employees and operates through the following segments: Retail Banking, Corporate Banking, Treasury Banking, Investment and Brokerage Services, and Others.

In 2016, the bank reported total assets of US$45.3 billion and a net profit US$763 million.

Alawwal Bank

Alawwal Bank was established in 1926. The bank provides banking and investment services in the kingdom. It operates through its Corporate Banking, Personal Banking, Investment Banking and Investment Services, and Central Treasury and ALCO segments. Headquartered in Riyadh, it employs around 2,600 individuals and operates through a network of 65 branches. In 2016, it was renamed from Saudi Hollandi Bank to Alawwal Bank.

As of 2016, the bank’s total assets amounted to US$28 billion and net profit reached US$283 million.

Alinma Bank

Alinma Bank was founded in 2006. The bank provides banking and investment services through its 76 branches. It operates through various segments: Retail Banking, Corporate Banking, Treasury, and Investment and Brokerage.

As of 2016, the total assets of the bank were US$28.0 billion and net profit was US$400 million.

Saudi Investment Bank

Saudi Investment Bank (SAIB) was founded in 1976 and is headquartered in Riyadh. The bank provides investment and banking services. It also offers wholesale, retail, and commercial banking products. It specifically arranges financing for quasi-government and private industrial sectors and trade finance products for imports and exports.

SAIB employs around 1,600 staff across the world. Shareholders in the publicly-listed bank include J. P. Morgan Chase, Mizuho Corporate Bank, Saudi public and private institutions, as well as Saudi citizens.

In 2016, the bank reported total assets of US$25.0 billion and a net profit of US$280 million.

The top banks in UAE

2018-02-05T11:26:00.000-08:00

The UAE Central Bank is the primary financial regulatory authority in the country. There are 23 local and 26 foreign banks in UAE. Larger banks dominate the country’s banking industry, with the five biggest banks accounting for about 60% of the sector’s assets. Islamic banking comprises 8 full-fledged Islamic banks and 23 Islamic windows set up by conventional banks in UAE, collectively accounting for 19% of total sector assets.

There are 4 types of banks in UAE:

Commercial banks
Industrial banks
Merchant banks
Islamic banks
According to Moody’s, the UAE banking system is stable due to the banks’ resilient capital levels and liquidity buffers.

For anyone considering a career in banking in UAE, this list is a helpful guide on where to start. To learn more, see our lists of financial institutions.

The top banks in UAE are:

Emirates NBD
Emirates NBD is the largest banking group in the Middle East. It is headquartered in Dubai and employs 9,000 staff. The bank currently manages 221 branches and 1,023 ATMs and SDMs in UAE and overseas. It operates through different business segments: Retail Banking and Wealth Management, Wholesale Banking, Islamic Banking (IB), International, and Information Technology and Operations.

In 2016, the bank’s total assets amounted to US$121 billion and net profit reached US$1.97 billion.

National Bank of Abu Dhabi

Established in 1968, it is the largest lender bank in the Emirate of Abu Dhabi. It provides corporate, retail, private, investment and Islamic banking services. The bank is headquartered in Abu Dhabi and is present in 19 countries across the world.

The National Bank of Abu Dhabi employs 10,849 staff. In 2016, the bank reported total assets of US$114 billion and posted a net profit of US$1.44 billion.

Abu Dhabi Commercial Bank

Founded in 1985, Abu Dhabi Commercial Bank provides retail, commercial, and Islamic banking, and other financial services. The bank operates through the following business segments: Consumer Banking, Wholesale Banking, Investments and Treasury Banking, and Property Management. It employs 16,924 staff and is headquartered in Abu Dhabi.

As of 2016, the total assets of the bank were US$70 billion and net profit was US$1.13 billion.

First Gulf Bank

First Gulf Bank was established in 1979 and is headquartered in Abu Dhabi. The bank‘s business segments include Wholesale Banking Group, Treasury and Global Markets, Consumer Banking, Real Estate, and Other Operations. It employs around 1,436 individuals and is present in 19 countries, including Kuwait, China, the UK, France, Malaysia, Bahrain, Sudan, Hong Kong, Switzerland Lebanon, Labuan, Oman, Egypt, USA, Jordan, Brazil, and India.

In 2016, the bank’s total assets amounted to US$66 billion and net profit reached US$1.65 billion.

Dubai Islamic Bank

Dubai Islamic Bank came into existence in 1975 and is headquartered in Dubai. The bank operates through its Consumer Banking, Corporate Banking, Real Estate Development, Treasury, and Other business segments. It serves around 1.7 million customers and maintains 90 branches across UAE.

In 2016, the bank reported total assets of US$47 billion and posted a net profit of US$1.12 billion.

MashreqBank

Mashreq Bank was founded in 1967 and is headquartered in Dubai. The bank is a Joint Stock Company and is an associated company of the HSBC Group. It provides retail banking, commercial banking, investment banking, Islamic banking, brokerage and asset management services. The bank operates around 45 domestic branches and 20 international branches and is present in Egypt, Qatar, Kuwait, and Bahrain. It currently employs around 4,000 staff.

As of 2016, the bank’s total assets were US$33 billion and net profit was US$531 million.

Abu Dhabi Islamic Bank

The bank was established in 1997 and is headquartered in Abu Dhabi. It operates through the following segments: Global Retail Banking, Global Wholesale Banking, Private Banking, Treasury, Real Estate, and Others. It is present in Egypt, Iraq, Saudi Arabia and the UK.

In 2016, total assets of the bank amounted to US$33 billion and net profit reached US$531 million.

Union National Bank

Founded in 1982, Union National Bank provides commercial and investment banking services to salaried individuals, self-employed individuals, high net worth individuals, and business entities in the UAE and other countries. Headquartered in Abu Dhabi, the bank manages a network of 76 branches around the world. It operates through its International and Financial Institutions division and Treasury and Investments division.

In 2016, the bank reported total assets of US$28 billion and posted a net profit of US$430 million.

Commercial Bank of Dubai

The Commercial Bank of Dubai was founded in 1969 and is headquartered in Dubai. The bank offers corporate banking, commercial banking, personal banking, Islamic banking and support services. It is the 35th largest bank in the Persian Gulf region.

As of 2016, the bank’s total assets were US$17 billion and net profit was US$273 million.

RAKBank

Established in 1976, RAKBank is headquartered in Ras Al-Khaimah, UAE. It is also known as the National Bank of Ras Al Khaimah (P.J.S.C). The bank provides retail and commercial banking services to individuals and businesses in UAE. The business operates through five segments: Retail Banking, Wholesale Banking, Business Banking, Treasury, and Insurance Business. It manages a network of 38 branches and serves around 700,000 customers.

In 2016, the total assets of the bank amounted to US$11 billion and net profit reached US$180 million.